Category: Business
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Databank’s Alex Boahen advocates for more education on Ponzi schemes
Amidst the growing concern about the operations of Ponzi schemes in the country, the Head of Research at Databank, Alex Boahen, has reiterated the need for more investor education by the regulators. This follows the recent conclusion by the Economic and Organised Crime Office (EOCO) that Chy Mall, under which Chy Century Heng Yue Group…
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We’ll settle debts to LBCs in the coming weeks – COCOBOD
The Public Affairs Manager of the Ghana Cocoa Board (COCOBOD), Fiifi Boafo has assured that his outfit will in a few weeks secure about $200 million dollars to settle the arrears owed some License Buying Companies (LBCs) and farmers across the country. This follows yesterday’s summoning of the CEO of COCOBOD, Joseph Boahen Aidoo by…
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GUTA urges ECOWAS members to fully comply with trade laws
In order to resolve trade impasses between countries in the West African sub-region, President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng, has asked all stakeholders to follow the appropriate laws governing trade among the states. Citing the example of the recent impasse between Ghanaian and Nigerian traders, Dr. Obeng believes obeying…
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Reduction in cost of debt critical as figure rises to nearly 75% of GDP – Economist
As Ghana’s debt stock continues to rise, reaching about 75 percent of GDP in the first eleven months of 2020, an economist with Databank, Courage Martey has charged managers of the economy to prioritize reducing the cost of debt going forward. What is noteworthy according to the 2020 mid-year budget statement is the fact that…
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Aker Energy appoints Kadijah Amoah as CEO of Aker Energy Ghana Limited
Aker Energy AS has promoted Country Director, Mrs. Kadijah Amoah as Chief Executive Officer, CEO, of Aker Energy Ghana Limited, effective 4 January 2021. In a statement issued by the company, CEO of Aker Energy AS, Håvard Garseth, notes that, the move shows Aker Energy’s commitment to become a fully Ghanaian operator managed and run…
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Don’t invest in Chy Century Heng Yue; it’s a Ponzi scheme – EOCO cautions Ghanaians
The Economic and Organised Crime Office (EOCO) has warned the public against doing business with a Chinese Company called Chy Century Heng Yue Group Limited and Sairuir-Commerce Ghana Limited. In a statement, EOCO said it had been monitoring the company since the middle of 2020 and has concluded it is a Ponzi scheme. “The company…
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Continue with bold financial sector reforms – Nana Otuo Acheampong urges BoG Governor
Banking Consultant, Nana Otuo Acheampong has welcomed the expected renewal of the tenure of office of the Governor of the Bank of Ghana Dr. Ernest Addison by President Akufo-Addo for another 4 years. The President back in 2017, forwarded Mr. Addison’s name to the Council of State for consideration and approval as the Governor of…
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Akufo-Addo renews tenure of BoG Governor, Dr. Ernest Addison
The tenure of the Governor of the Bank of Ghana, Dr. Ernest Addison has been renewed by President Nana Akufo-Addo for another four years. His current tenure which begun on 1st April 2017 will end at the end of March 2021. According to Citi Business News sources at the Central Bank, President Akufo-Addo has given…
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Go City Cycle Share & Tour promotes bike-sharing culture in Ghana
Researchers predict that Climate Change will threaten food production, human health, wildlife, and ecosystems. In Ghana, local communities in the Northern and Savannah regions where temperatures have been fast-rising, are already feeling the devastating impact of climate change. Beyond its social effects, Climate Change is also a very costly problem. The International Monetary Fund revealed…
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Frances Adu-Mante appointed Board Chair of Absa Bank Ghana Limited
Frances Adu-Mante appointed Board Chair of Absa Bank Ghana Limited Absa Group is pleased to announce the appointment of Mrs Frances Adu –Mante as Board Chair of Absa Bank Ghana after securing the necessary regulatory approvals. Mrs Adu-Mante, who has served on the Board since September, 2017 succeeds Mr. Charles Alexander Cofie, who completed his…